re-evaluate how they keep employees engaged & committed. A strong benefits package plays a significant role in employee retention.
(Source: MIT Sloan)
A Gallup survey found that employees who feel their benefits meet their needs are 2x more likely to stay with their employer (Source: Gallup – Employee Benefits)
BizPower Benefits helps businesses offer premium perks at an affordable cost, ensuring employees feel valued and protected.
Employee turnover is one of the most expensive challenges for businesses. With the cost of replacing an employee ranging from 50% to 250% of their annual salary, it’s crucial to invest in retention strategies—especially through better benefits. (Source: KFF – Telehealth Trends)
70% of employees say low-cost healthcare is the #1 benefit that keeps them from leaving (Source: Forbes – Employee Retention & Benefits)
Companies offering mental health benefits see 25% lower turnover rates
(Source: APA – Workplace Mental Health)
Employees with financial security benefits are 30% more engaged at work
(Source: Fidelity – Financial Benefits & Retention)
A 2023 survey by the Society for Human Resource Management (SHRM) found that 60% of employees would choose a strong benefits package over a pay raise when considering job offers. (Source: SHRM – The State of Employee Benefits)
The Takeaway
Companies that prioritize employee well-being through accessible benefits see stronger employee retention, loyalty, and engagement. BizPower Benefits makes it easier than ever to offer competitive benefits that keep employees happy.
